In one of our previous articles, we have shown you how to mine Ethereum – one of the most popular cryptocurrencies as of today. Today, we will learn about Monero mining. It's a high priced cryptocurrency, focused on privacy, decentralization, and scalability. We will check out CPU mining on Ubuntu 16.04 and Debian 8.
Monero Mining Is For Everyone!
Unlike Etherum, you can mine Monero with about anything, even your old laptop CPU. That won’t yield much profit, but it is a possibility. On top of that, GPU mining does not offer a substantial increase in mining power as in Ethereum. Here, a dedicated GPU can offer only 2 to 3 times greater hashrate than a new CPU, instead of Ethereum’s 10 to 20 times. This means you’re better off setting all your old laptops to mine than purchasing a new GPU, unless of course, you intend to set up a whole farm.
You can also mine with a CPU and a GPU at the same time. Bear in mind that this probably has greater power draw, and you ought to calculate whether what you’re doing is profitable. Let’s see how to mine using just a CPU.
How Intall XMR-STAK-CPU - Monero Mining Tool
I recommend using xmr-stak-cpu, a very fast, cost-effective, open source solution. First off, we will have to install dependencies of the program. We will also have to compile it, so we need software for that, too. Run:
sudo apt install libmicrohttpd-dev libssl-dev cmake build-essential libhwloc-dev
Then, download the miner:
Enter the new directory:
After you’re done, install the miner:
It should create a „bin” folder. Enter the folder:
How to Configure
And edit the configuration file. Usually, all you need to do is specify your pool address, wallet address and „pool password”, which for the pool we’re using is just a machine name and email. Here is an example.
„pool_address” : „pool.supportxmr.com:3333”,
„wallet_address” : „yourmonerowalletaddresshere”,
„pool_password” : „worker:email@example.com”,
Once you set the configuration file, run
And your machine will start mining with your CPU!